Is it not time for LLoyds and BOS to return there Club and Vantage accounts to there original Terms


Lloyds launches current account paying up to 4% interest - but you'll need a bumper bank balance
CLUB LLOYDS LAUNCHED 31st MARCH 2014 perhaps before that it was advantage?BANK OF ENGLAND BASE RATE APRIL 2014 0,5% NOW 4%
Lloyds is the latest bank to tempt desperate savers with an interest-paying current account - offering up to 4 per cent for balances between £4,000 and £5,000.
Available from Monday, the account pays higher rates of interest the greater your balance and customers also gain access to a 4 per cent regular saver account and discounts on mortgages rates - as well as free cinema tickets.
But the account requires a £1,500 minimum monthly deposit and there are hefty charges for straying into the red, while those with less than £2,000 in their account will only get 1 per cent interest.
Rate-chasing savers could use this account to boost income
The Club Lloyds account is open to both new and existing customers and pays 1 per cent on in-credit balances of between £1 and £1,999, 2 per cent up to £3,999 and 4 per cent up to £5,000 for an unlimited period.
Lloyds says a saver with £5,000 in the account could get a maximum of £196 in interest per year, which actually works out as 3.93 per cent return as interest is calculated monthly.
The main reason given for change was the low Bank of England Rate
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Replies
Lloyds/BoS can set whatever interest rate they like, they've no obligation to change things to exactly how they were once. All banking products change.
And why ask here? Asking Lloyds and BoS would be a better option.
They seem (Lloyds & Halifax) more active in the switching incentive arena at the moment.
https://m.youtube.com/watch?v=JR4-1kYCyHI
Edited to add: Apologies, wmb194 is correct - see later replies below